## statsapp

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---

### Coverage, assumptions, and data notes
- Countries and territories covered: Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen.
- Number of countries/territories with data in the tables: 32.
- Data revisions reflect changes in methodology and/or revisions provided by country authorities.
- Projection assumptions for the April 2021 Regional Economic Outlook Update: Middle East and Central Asia:
  - Price of oil will average US$52.64 a barrel in 2021 and US$50.07 a barrel in 2022.
  - Six-month LIBOR on U.S.-dollar deposits will average 0.3 percent in 2021 and 0.4 percent in 2022.
- 2021 and 2022 data in the tables are projections based on statistical information available through late March 2021.
- Exclusions and omissions:
  - All data for Syria are excluded for 2011 onward.
  - Lebanon’s projections for 2021 and 2022 are omitted.
- Year conventions and table notes:
  - Calendar years except for specified country-year conventions (Afghanistan, Iran, Egypt, Pakistan).
  - In Tables 3, 6, 13, and 14, “oil” includes gas.
  - Arithmetically weighted averages used for aggregates except CPI (geometric).
  - Ellipsis points (. . .) indicate “not available.” 0 or 0.0 indicates “zero” or “negligible.”
  - Note on oil price series: Simple average of prices of U.K. Brent, Dubai Fateh, and West Texas Intermediate crude oil.

### Major projections and aggregate statistics — growth, GDP, oil, inflation
- Real GDP Growth (Annual change; percent) — selected aggregates and country examples:
  - Middle East and Central Asia: Average 4.72; 2018 2.0; 2019 1.4; 2020 -2.9; 2021 3.7; 2022 3.8
  - Oil Exporters: Average 4.9; 2018 0.7; 2019 0.3; 2020 -4.2; 2021 4.6; 2022 3.4
  - CCA: Average 7.2; 2018 4.4; 2019 4.8; 2020 -1.9; 2021 3.7; 2022 4.1
  - Fragile states and conflict-affected countries: Average 6.2; 2018 1.7; 2019 2.8; 2020 -11.1; 2021 13.0; 2022 3.4
  - Algeria: 2000–17 average 3.5; 2018 1.2; 2019 0.8; 2020 -6.0; 2021 2.9; 2022 2.7
  - Saudi Arabia: 2000–17 average 3.7; 2018 2.4; 2019 0.3; 2020 -4.1; 2021 2.9; 2022 4.0
  - Libya: 2000–17 average 2.1; 2018 17.9; 2019 13.2; 2020 -59.7; 2021 131.0; 2022 5.4

- Nominal GDP (Billions of U.S. dollars):
  - Middle East and Central Asia: Average 2,542.5; 2018 3,832.3; 2019 3,977.2; 2020 3,682.8; 2021 4,077.2; 2022 4,272.9
  - Oil Exporters: Average 1,838.2; 2018 2,807.7; 2019 2,928.9; 2020 2,635.6; 2021 2,952.3; 2022 3,061.4
  - GCC: Average 1,016.5; 2018 1,650.2; 2019 1,639.4; 2020 1,406.9; 2021 1,611.0; 2022 1,659.2

- Oil and gas production and exports (Millions of barrels per day):
  - Crude oil production, Oil exporters: Average 26.54; 2018 30.50; 2019 28.96; 2020 26.22; 2021 27.12; 2022 28.34
  - Natural gas production, Oil exporters: Average 10.35; 2018 16.77; 2019 17.00; 2020 16.77; 2021 17.45; 2022 17.97
  - Crude oil exports, MCD Oil Exporters: Average 19.66; 2018 22.04; 2019 20.64; 2020 18.18; 2021 18.99; 2022 20.03
  - Natural gas exports, MCD Oil Exporters: Average 4.00; 2018 5.83; 2019 5.80; 2020 5.36; 2021 5.50; 2022 5.81

- Breakeven oil prices (U.S. dollars per barrel) — selected entries:
  - Fiscal breakeven, Algeria: 2018 101.4; 2019 106.3; 2020 90.4; 2021 169.6; 2022 138.3
  - Fiscal breakeven, Azerbaijan: 2000–17 average 52.1; 2018 56.5; 2019 44.7; 2020 65.0; 2021 82.5; 2022 66.4
  - Fiscal breakeven, Iran, Islamic Republic of: 2000–17 average 82.1; 2018 75.9; 2019 197.8; 2020 304.3; 2021 242.8; 2022 259.2
  - External breakeven, Algeria: 2018 101.7; 2019 97.4; 2020 78.3; 2021 87.7; 2022 85.5
  - Definitions:
    - Fiscal breakeven oil price: The oil price at which the fiscal balance is zero.
    - External breakeven oil price: The oil price at which the current account balance is zero.

- Consumer Price Inflation (Year average; percent) — selected aggregates and countries:
  - Middle East and Central Asia: 2019 8.8; 2020 6.8; 2021 10.1; 2022 11.5; 2022 8.2
  - Iran: 2019 30.2; 2020 34.6; 2021 36.5; 2022 39.0; 2022 27.5
  - Sudan: 2000–17 average 17.3; 2018 63.3; 2019 51.0; 2020 163.3; 2021 197.1; 2022 44.5

- Core Consumer Price Inflation (Year average; percent) — selected:
  - Middle East and Central Asia: 2019 10.7; 2020 8.4; 2021 10.9; 2022 11.6; 2022 7.9
  - Iran: 2019 30.5; 2020 32.8; 2021 36.3; 2022 37.3; 2022 27.2

### Aggregation group definitions (selected)
- CCA countries: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan.
- CCA oil and gas exporters: Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan.
- CCA oil and gas importers: Armenia, Georgia, the Kyrgyz Republic, and Tajikistan.
- MENA countries: Algeria, Bahrain, Djibouti, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, West Bank and Gaza, and Yemen.
- Fragile states and conflict-affected countries: Afghanistan, Djibouti, Iraq, Lebanon, Libya, Somalia, Sudan, Syria, Tajikistan, and Yemen.
- GCC: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
- Conflict countries: Libya, Syria, West Bank and Gaza, and Yemen.

### Monetary and fiscal aggregates (Broad money, fiscal balances, revenue)
- Broad Money Growth (Annual change; percent) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - Middle East and Central Asia: 16.1 10.1 10.0 15.1 15.9 12.6
  - Oil Exporters: 16.4 6.8 10.0 14.0 15.3 12.6
  - Iran, Islamic Republic of: 25.8 23.4 30.9 34.5 39.7 32.7
  - Sudan: 28.7 111.8 60.1 88.0 80.5 38.6
  - GCC: 12.3 2.0 6.0 6.5 6.2 4.8
  - Note: Broad money defined to include nonresident deposits (M5) in some entries; scope varies.

- Central Government Net Lending/Borrowing (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - Middle East and Central Asia: 0.7 -2.5 -3.6 -8.4 -5.6 -4.5
  - Oil Exporters: 2.7 -1.0 -2.3 -8.6 -5.0 -3.9
  - Algeria: 0.9 -4.4 -5.6 -7.7 -13.6 -11.8
  - Kuwait: 24.4 9.0 4.4 -9.4 -6.8 -4.5
  - Emerging Market and Middle-Income Countries: -6.2 -7.1 -7.7 -8.3 -7.8 -6.4
  - Egypt: -9.0 -9.7 -8.1 -8.0 -8.4 -6.6

- General Government Fiscal Balance (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - Middle East and Central Asia: 1.3 -2.5 -3.7 -9.5 -5.6 -4.4
  - Oil Exporters: 3.7 -1.1 -2.7 -10.3 -5.0 -4.0
  - Libya: -11.0 -23.3 -24.0 -103.0 0.3 -0.1
  - Saudi Arabia: 3.7 -5.9 -4.5 -11.1 -3.8 -2.5
  - Tunisia: -3.5 -4.5 -3.9 -10.6 -9.3 -6.8

- General Government Total Revenue, Excluding Grants (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - Middle East and Central Asia: 30.3 27.7 26.3 23.1 24.2 24.6
  - Oil Exporters: 33.8 30.6 28.9 24.7 26.1 26.3
  - Kuwait: 65.0 58.4 57.9 56.5 51.0 53.2
  - Libya: 57.7 62.6 71.0 62.1 66.6 63.5
  - GCC: 39.0 33.6 34.0 30.7 31.3 31.8

### Oil exporters — non-oil fiscal metrics
- General Government Non-Oil Fiscal Balance (Percent of non-oil GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - MCD Oil Exporters: -38.4 -33.5 -29.8 -29.4 -28.5 -26.0
  - Kuwait: -56.5 -63.3 -64.6 -71.6 -72.1 -66.1
  - Saudi Arabia: -49.9 -40.3 -35.9 -34.4 -27.4 -24.7
  - Libya: -179.3 -240.1 -171.7 -155.8 -245.1 -208.9
  - GCC: -44.5 -37.6 -34.6 -35.3 -30.9 -28.2

- General Government Non-Oil Revenue (Percent of non-oil GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - MCD Oil Exporters: 14.1 15.3 16.8 15.1 15.4 15.5
  - Saudi Arabia: 9.6 15.2 16.4 17.4 17.4 17.3
  - United Arab Emirates: 14.5 15.2 19.2 15.4 17.8 17.6
  - Memorandum — GCC: 14.2 16.4 18.4 17.2 18.1 18.2

### Public debt and net debt
- Total Government Gross Debt (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - Middle East and Central Asia: 36.9 43.6 48.0 56.0 53.0 53.4
  - Oil Exporters: 24.9 30.3 35.5 43.3 40.2 41.6
  - Bahrain: 36.7 95.0 102.1 132.9 129.4 134.2
  - Egypt: 83.4 92.5 84.2 90.2 92.9 88.9
  - Lebanon: ... 154.9 174.3 154.4 ......
  - GCC: 24.6 26.1 30.8 41.0 38.3 39.6
  - North Africa: 58.4 75.9 75.6 88.0 89.2 88.3

- MENAP: Total Government Net Debt (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - Middle East and Central Asia: 21.1 31.4 37.1 43.4 43.2 44.2
  - Oil Exporters: 0.3 9.3 17.5 25.2 25.2 26.9
  - Saudi Arabia: 3.7 -0.1 5.0 15.8 17.6 19.6
  - GCC: 2.3 2.7 7.7 19.2 20.4 22.1

### External sector — exports, imports, current account, reserves, external debt
- Exports of Goods and Services (Billions of U.S. dollars) — Average 2000–17; 2018; 2019; 2020; 2021; 2022:
  - Middle East and Central Asia: 1058.2 1542.3 1455.9 1088.0 1351.4 1412.2
  - Oil Exporters: 889.5 1316.7 1218.6 893.7 1139.5 1169.2
  - Saudi Arabia: 227.5 314.9 285.9 183.0 258.4 256.9
  - United Arab Emirates: 225.6 392.9 387.2 311.0 372.5 390.6
  - Lebanon: 16.4 19.6 18.4 9.0 ......

- Imports of Goods and Services (Billions of U.S. dollars):
  - Middle East and Central Asia: 888.9 1377.7 1374.0 1151.0 1281.5 1356.5
  - Oil Exporters (regional): 648.2 1002.1 995.6 833.6 933.5 976.1
  - United Arab Emirates: 184.8 307.7 306.5 256.4 295.6 314.8
  - MENA: 768.4 1181.6 1173.3 981.2 1090.3 1153.6

- Current Account Balance (Billions of U.S. dollars) and Percent of GDP:
  - Middle East and Central Asia (US$): 147.2 103.7 21.0 -111.1 12.9 2.2
  - Middle East and Central Asia (percent of GDP): 6.3 percent 2.7 percent 0.5 percent -3.0 percent 0.3 percent 0.1 percent
  - Oil Exporters (US$): 174.2 171.0 81.4 -71.8 63.9 54.1
  - MENA (US$): 146.1 119.5 40.8 -97.3 23.4 15.6
  - MENA oil importers (percent of GDP): -4.0 percent -7.5 percent -6.7 percent -4.9 percent -5.6 percent -5.2 percent

- Gross Official Reserves (Billions of U.S. dollars) and Months of Imports:
  - Reserves, Middle East and Central Asia: 876.0 1246.4 1135.6 1051.2 1067.3 1089.5
  - Reserves, Oil Exporters (regional): 762.1 1061.8 956.5 862.0 870.3 885.7
  - Reserves (months of imports), Middle East and Central Asia: 9.4 months 10.3 11.2 9.5 9.1 8.9
  - Saudi Arabia reserves (US$): 362.9 494.1 497.3 451.4 450.0 449.3
  - United Arab Emirates (central bank only) reserves (US$): 45.0 99.5 108.4 106.7 119.0 127.7

- Total Gross External Debt (Percent of GDP):
  - Middle East and Central Asia: 33.3 percent 44.5 percent 46.8 percent 53.9 percent 49.3 percent 48.2 percent
  - Bahrain: 121.2 percent 204.6 percent 225.7 percent 257.7 percent 245.6 percent 246.4 percent
  - CCA: 58.8 percent 73.2 percent 68.1 percent 76.9 percent 69.3 percent 67.4 percent
  - MENA oil importers: 45.3 percent 67.1 percent 62.9 percent 66.0 percent 59.4 percent 54.1 percent

### Banking sector indicators — capital adequacy, profitability, asset quality
- Capital Adequacy Ratios (Percent of risk-weighted assets) — selected country series excerpts (multiple dated entries):
  - Bahrain retail banks: 19.2, 19.5, 19.8, 20.1, 18.9, 19.2, 20.0, 20.4, 17.8, 19.2, 19.8, 20.0 (Dec-17 through Dec-20 entries)
  - Iraq: 46.5, 48.8, 48.8, 63.8, 63.8, 64.6, 62.8, 62.6, 53.9, 53.5, 54.3, 59.3, 53.1
  - Kazakhstan: 21.8, 21.9, 21.4, 21.4, 21.9, 23.2, 22.6, 23.2, 23.2, 24.6, 26.4, 25.3
  - Kuwait: 18.4, 18.2, 17.9, 18.0, 18.0, 18.0, 17.6, 18.0, 18.5, 17.2, 17.6
  - Qatar: 16.3, 16.1, 16.2, 18.0, 18.0, 17.8, 17.6, 17.6, 18.6, 18.1, 18.1, 18.2, 19.0
  - Egypt: 15.2, 15.7, 15.6, 16.0, 16.2, 16.5, 16.9, 18.1, 18.4, 18.6, 20.1, 19.8
  - Lebanon (Basel II/III): 17.1, 17.1, 16.9, 16.6, 17.8, 17.3, 15.8, 10.5 (series with later gaps)
  - Pakistan: 15.8, 15.9, 15.9, 16.1, 16.2, 16.1, 16.1, 17.1, 17.1, 17.0, 17.2, 18.7, 19.5

- Return on Assets (Pre-tax, percent) — time series (Dec-17 to Dec-20) — selected excerpts:
  - Bahrain2: 0.4 0.7 0.9 1.3 0.2 0.8 1.1 1.5 0.3 0.5 0.7 0.8
  - Iran: 11.3 10.3 11.6 11.4 11.6 10.0 10.5 10.1 9.7 8.6 10.1 7.8
  - Saudi Arabia: 2.2 2.1 2.2 2.1 2.4 1.9 1.9 1.8 1.8 1.0 1.2 (multiple dated entries)
  - Armenia: 1.2 1.4 1.5 1.5 1.2 1.6 1.4 1.6 1.7 1.5 1.8 1.6 1.3
  - Egypt3: 2.0 1.5 1.5 1.5 1.5 1.4 1.4 1.4 1.4 1.8 1.8 1.8

- Nonperforming Loans (90-day basis, percent of total loans) — time series (Dec-17 to Dec-20) — selected excerpts:
  - Bahrain2: 6.9 6.9 6.6 6.5 6.6 6.4 6.5 6.3 5.6 5.3 5.2 5.1
  - Iran: 11.3 10.3 11.6 11.4 11.6 10.0 10.5 10.1 9.7 8.6 10.1 7.8
  - Iraq: 14.8 15.2 15.7 17.0 17.5 18.2 16.7 15.5 16.2 17.9 18.7 19.1
  - Oman: 2.4 2.6 2.7 2.7 2.7 2.9 3.0 3.2 3.4 3.7 4.0 4.0 4.2
  - United Arab Emirates3: 5.3 5.8 5.8 5.7 5.6 5.7 6.2 6.4 6.5 6.9 7.4 7.7
  - Armenia4: 5.5 5.4 6.3 6.9 4.8 5.0 5.4 5.5 5.5 5.5 5.7 6.0 6.6
  - Egypt5: 4.9 4.5 4.3 4.4 3.9 4.1 4.2 4.5 4.2 4.1 3.9 3.4
  - Tunisia: 13.9 13.9 13.7 14.2 13.3 13.6 13.7 13.9 13.4 13.2 13.5 13.1
  - Tajikistan5: 36.5 34.3 32.6 32.4 31.1 30.0 25.5 31.5 26.1 29.2 31.0 28.5 23.8

- Notes and data flags (as in source):
  - Sources: National authorities; and IMF staff estimates and projections.
  - 1 Data is for retail banks’ (Table 25) / Only the overdue portion of principal and interest is disclosed as NPL. (Table 26)
  - 2 National banks only.
  - 3 After tax. (Table 25) / Data is for retail banks’ (Table 26)
  - 4 Cumulative and annualized. (Table 25) / Defined as loans overdue between at least 1 and 270 days. (Table 26)
  - 5 Data refer to end of fiscal year. (Table 26)
  - 6 Overdue by 30 days or more.

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 1

### Statistical Appendix

### Coverage, assumptions, and data notes
- Countries and territories covered: Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen.
- Number of countries/territories with data in the tables: 32.
- Data revisions reflect changes in methodology and/or revisions provided by country authorities.
- Projection assumptions for the April 2021 Regional Economic Outlook Update: Middle East and Central Asia:
  - Price of oil will average US$52.64 a barrel in 2021 and US$50.07 a barrel in 2022.
  - Six-month LIBOR on U.S.-dollar deposits will average 0.3 percent in 2021 and 0.4 percent in 2022.
- 2021 and 2022 data in the tables are projections based on statistical information available through late March 2021.
- Exclusions and omissions:
  - All data for Syria are excluded for 2011 onward.
  - Lebanon’s projections for 2021 and 2022 are omitted.
- Year conventions:
  - All data refer to calendar years, except: Afghanistan (March 21 to March 20 until 2011, and December 21 to December 20 thereafter), Iran (March 21 to March 20), and Egypt and Pakistan (July to June) except inflation.
  - Tables 7 and 8 correspond to the calendar year for all aggregates and countries, except for Iran (Iranian calendar year beginning on March 21).
- Definitions and aggregation:
  - In Tables 3, 6, 13, and 14, “oil” includes gas.
  - Arithmetically weighted averages used for all data aggregates except consumer price index (geometric averages).
  - REO aggregates use a variety of weights as appropriate to the series (detailed weighting rules provided).
- Table conventions:
  - Ellipsis points (. . .) indicate “not available.”
  - 0 or 0.0 indicates “zero” or “negligible.”
  - Minor discrepancies between sums of figures and totals are due to rounding.
- Note on oil price series: Simple average of prices of U.K. Brent, Dubai Fateh, and West Texas Intermediate crude oil.

### Major projections and aggregate statistics (selected tables)
- Table 1 — Real GDP Growth (Annual change; percent)
  - Middle East and Central Asia: Average 4.72; 2018 2.0; 2019 1.4; 2020 -2.9; 2021 3.7; 2022 3.8
  - Oil Exporters: Average 4.9; 2018 0.7; 2019 0.3; 2020 -4.2; 2021 4.6; 2022 3.4
  - Emerging Market and Middle-Income Countries: Average 4.3; 2018 4.6; 2019 3.2; 2020 -0.6; 2021 2.1; 2022 4.5
  - CCA: Average 7.2; 2018 4.4; 2019 4.8; 2020 -1.9; 2021 3.7; 2022 4.1
  - MENA: Average 4.5; 2018 1.2; 2019 0.8; 2020 -3.4; 2021 4.0; 2022 3.7
  - Fragile states and conflict-affected countries: Average 6.2; 2018 1.7; 2019 2.8; 2020 -11.1; 2021 13.0; 2022 3.4
  - Selected country examples:
    - Algeria: 2000–17 average 3.5; 2018 1.2; 2019 0.8; 2020 -6.0; 2021 2.9; 2022 2.7
    - Saudi Arabia: 2000–17 average 3.7; 2018 2.4; 2019 0.3; 2020 -4.1; 2021 2.9; 2022 4.0
    - Libya: 2000–17 average 2.1; 2018 17.9; 2019 13.2; 2020 -59.7; 2021 131.0; 2022 5.4

- Table 2 — Nominal GDP (Billions of U.S. dollars)
  - Middle East and Central Asia: Average 2,542.5; 2018 3,832.3; 2019 3,977.2; 2020 3,682.8; 2021 4,077.2; 2022 4,272.9
  - Oil Exporters: Average 1,838.2; 2018 2,807.7; 2019 2,928.9; 2020 2,635.6; 2021 2,952.3; 2022 3,061.4
  - Emerging Market and Middle-Income Countries: Average 581.6; 2018 865.8; 2019 882.7; 2020 883.9; 2021 949.3; 2022 1,026.9
  - MENA: Average 2,117.5; 2018 3,137.4; 2019 3,301.8; 2020 3,044.9; 2021 3,873.3; 2022 5,534.5
  - GCC: Average 1,016.5; 2018 1,650.2; 2019 1,639.4; 2020 1,406.9; 2021 1,611.0; 2022 1,659.2

- Table 3 — Oil Exporters: Oil and Non-Oil Real GDP Growth (Annual change; percent)
  - Non-Oil GDP, Oil exporters: Average 6.0; 2018 1.6; 2019 2.6; 2020 -3.0; 2021 3.4; 2022 3.0
  - Oil GDP, Oil Exporters: Average 4.0; 2018 -2.4; 2019 -7.6; 2020 -5.6; 2021 5.4; 2022 4.1
  - CCA oil and gas exporters (non-oil): Average 7.6; 2018 4.0; 2019 5.6; 2020 -1.4; 2021 3.5; 2022 4.0

- Table 4 — Crude Oil and Natural Gas Production (Millions of barrels per day)
  - Crude oil production:
    - Oil exporters: Average 26.54; 2018 30.50; 2019 28.96; 2020 26.22; 2021 27.12; 2022 28.34
    - MENA oil exporters: Average 24.62; 2018 27.68; 2019 26.19; 2020 23.60; 2021 24.47; 2022 25.67
    - GCC: Average 15.83; 2018 17.82; 2019 17.31; 2020 16.17; 2021 16.29; 2022 17.17
  - Natural gas production:
    - Oil exporters: Average 10.35; 2018 16.77; 2019 17.00; 2020 16.77; 2021 17.45; 2022 17.97
    - MENA oil exporters: Average 9.54; 2018 14.98; 2019 15.16; 2020 14.99; 2021 15.56; 2022 16.04
    - GCC: Average 5.59; 2018 9.22; 2019 9.44; 2020 9.49; 2021 9.97; 2022 10.17

- Table 5 — Crude Oil and Natural Gas Exports (Millions of barrels per day)
  - Crude oil exports:
    - MCD Oil Exporters: Average 19.66; 2018 22.04; 2019 20.64; 2020 18.18; 2021 18.99; 2022 20.03
    - MENA oil exporters: Average 18.09; 2018 19.86; 2019 18.53; 2020 16.28; 2021 17.06; 2022 18.11
    - GCC: Average 12.36; 2018 13.16; 2019 12.66; 2020 11.50; 2021 11.64; 2022 12.41
  - Natural gas exports:
    - MCD Oil Exporters: Average 4.00; 2018 5.83; 2019 5.80; 2020 5.36; 2021 5.50; 2022 5.81
    - MENA oil exporters: Average 3.67; 2018 4.99; 2019 4.89; 2020 4.50; 2021 4.55; 2022 4.79
    - GCC: Average 2.23; 2018 3.54; 2019 3.55; 2020 3.47; 2021 3.48; 2022 3.49

- Table 6 — Breakeven Oil Prices (U.S. dollars per barrel)
  - Fiscal breakeven oil price (selected entries, MENAP oil exporters):
    - Algeria: 2018 101.4; 2019 106.3; 2020 90.4; 2021 169.6; 2022 138.3
    - Azerbaijan: 2000–17 average 52.1; 2018 56.5; 2019 44.7; 2020 65.0; 2021 82.5; 2022 66.4
    - Iran, Islamic Republic of: 2000–17 average 82.1; 2018 75.9; 2019 197.8; 2020 304.3; 2021 242.8; 2022 259.2
    - Qatar: 2000–17 average 44.5; 2018 49.2; 2019 50.0; 2020 46.2; 2021 43.1; 2022 40.4
  - External breakeven oil price (selected entries, MENAP oil exporters):
    - Algeria: 2018 101.7; 2019 97.4; 2020 78.3; 2021 87.7; 2022 85.5
    - Azerbaijan: 2000–17 average 55.2; 2018 73.9; 2019 79.1; 2020 69.5; 2021 98.6; 2022 98.0
    - Saudi Arabia: 2018 ...; 2019 46.8; 2020 53.3; 2021 49.0; 2022 52.5; 2022 50.6
  - Definitions:
    - Fiscal breakeven oil price: The oil price at which the fiscal balance is zero.
    - External breakeven oil price: The oil price at which the current account balance is zero.
  - Note: Kuwait's fiscal breakeven oil price is before the compulsory 10 percent revenue transfer to the Future Generations Fund including investment income.

- Table 7 — Consumer Price Inflation (Year average; percent)
  - Middle East and Central Asia: 2018 ...; 2019 8.8; 2020 6.8; 2021 10.1; 2022 11.5; 2022 8.2
  - Oil Exporters: 2018 ...; 2019 7.6; 2020 5.5; 2021 8.1; 2022 10.2; 2022 7.6
  - Emerging Market and Middle-Income Countries: 2018 ...; 2019 7.8; 2020 6.6; 2021 8.1; 2022 7.9; 2022 7.2
  - Low-Income Developing Countries: 2000–17 average 13.0; 2018 25.5; 2019 19.7; 2020 40.9; 2021 43.7; 2022 17.8
  - Selected country examples:
    - Iran: 2018 ...; 2019 30.2; 2020 34.6; 2021 36.5; 2022 39.0; 2022 27.5
    - Sudan: 2000–17 average 17.3; 2018 63.3; 2019 51.0; 2020 163.3; 2021 197.1; 2022 44.5
    - Tunisia: 2000–17 average 3.3; 2018 2.7; 2019 1.0; 2020 -8.8; 2021 3.8; 2022 2.4

- Table 8 — Core Consumer Price Inflation (Year average; percent)
  - Middle East and Central Asia: 2018 ...; 2019 10.7; 2020 8.4; 2021 10.9; 2022 11.6; 2022 7.9
  - Oil Exporters: 2018 ...; 2019 9.4; 2020 8.1; 2021 10.6; 2022 11.6; 2022 8.6
  - Emerging Market and Middle-Income Countries: 2018 ...; 2019 10.4; 2020 6.7; 2021 5.9; 2022 5.0; 2022 5.0
  - Selected country examples:
    - Iran: 2018 ...; 2019 30.5; 2020 32.8; 2021 36.3; 2022 37.3; 2022 27.2
    - Sudan: 2000–17 average 16.6; 2018 58.9; 2019 51.0; 2020 163.3; 2021 222.8; 2022 44.5

### Aggregation group definitions (selected)
- CCA countries: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan.
- CCA oil and gas exporters: Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan.
- CCA oil and gas importers: Armenia, Georgia, the Kyrgyz Republic, and Tajikistan.
- MENA countries: Algeria, Bahrain, Djibouti, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, West Bank and Gaza, and Yemen.
- Fragile states and conflict-affected countries: Afghanistan, Djibouti, Iraq, Lebanon, Libya, Somalia, Sudan, Syria, Tajikistan, and Yemen.
- GCC: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
- Conflict countries: Libya, Syria, West Bank and Gaza, and Yemen.

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 2

### statsapp - Section 2

### Broad Money Growth (Table 9)
- Series label: (Annual change; percent) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- Middle East and Central Asia: 16.1 10.1 10.0 15.1 15.9 12.6
- Oil Exporters: 16.4 6.8 10.0 14.0 15.3 12.6
- Algeria: 12.7 11.1 -0.8 6.3 17.6 13.0
- Azerbaijan: 26.9 5.7 19.9 1.1 6.6 7.0
- Iran, Islamic Republic of: 25.8 23.4 30.9 34.5 39.7 32.7
- Emerging Market and Middle-Income Countries: 13.5 11.1 9.1 13.8 14.5 10.7
- Egypt: 15.2 18.4 11.8 17.5 15.0 12.7
- Low-Income Developing Countries: 28.0 45.2 32.2 40.1 35.8 24.7
- Sudan: 28.7 111.8 60.1 88.0 80.5 38.6
- CCA: 29.2 8.5 9.3 14.4 8.5 8.7
- CCA oil and gas exporters: 30.0 8.4 8.5 13.6 8.1 8.3
- CCA oil and gas importers: ... 9.2 14.9 19.7 11.0 11.8
- MENA: 15.3 10.4 11.1 14.9 16.8 13.1
- MENA oil exporters: 15.7 7.4 10.9 14.5 16.6 13.6
- Fragile states and conflict-affected countries: 15.4 24.0 16.3 29.6 34.4 19.1
- Memorandum — MENA, excluding conflict countries: 15.4 10.1 10.8 14.5 16.6 12.9
- GCC: 12.3 2.0 6.0 6.5 6.2 4.8
- Notes: Broad money is defined to include nonresident deposits (M5); in some entries broad money includes currency, demand deposits, quasi money, and long-term deposits.

### Central Government Net Lending/Borrowing (Table 10)
- Series label: (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- Middle East and Central Asia: 0.7 -2.5 -3.6 -8.4 -5.6 -4.5
- Oil Exporters: 2.7 -1.0 -2.3 -8.6 -5.0 -3.9
- Algeria: 0.9 -4.4 -5.6 -7.7 -13.6 -11.8
- Azerbaijan: 5.5 5.5 8.2 -6.4 -5.2 -2.3
- Bahrain: -4.1 -11.8 -9.0 -18.3 -9.1 -9.4
- Iran, Islamic Republic of: -1.9 -1.9 -5.1 -8.4 -6.8 -7.7
- Kuwait: 24.4 9.0 4.4 -9.4 -6.8 -4.5
- United Arab Emirates: 0.1 0.9 1.0 0.4 0.3 0.3
- Emerging Market and Middle-Income Countries: -6.2 -7.1 -7.7 -8.3 -7.8 -6.4
- Egypt: -9.0 -9.7 -8.1 -8.0 -8.4 -6.6
- Jordan: -6.1 -4.7 -6.0 -8.9 -7.7 -6.0
- Pakistan: -5.0 -6.4 -9.5 -8.6 -7.5 -6.6
- Low-Income Developing Countries: -2.7 -4.6 -5.2 -5.1 -3.7 -3.2
- Sudan: -2.5 -7.9 -10.8 -5.9 -3.1 -2.5
- Yemen: -3.8 -7.8 -5.3 -9.6 -6.1 -6.2
- CCA: ... 2.8 1.1 -7.1 -3.6 -1.8
- MENA: 1.0 -2.6 -3.5 -8.5 -5.6 -4.6
- MENA oil exporters: 2.6 -1.5 -2.7 -8.7 -5.1 -4.2
- MENA oil importers: -6.5 -7.5 -7.1 -7.9 -7.6 -6.1
- Fragile states and conflict-affected countries: ... 2.0 -2.5 -15.1 -7.5 -6.4
- Notes: Some country entries reflect central government and National Development Fund excluding Targeted Subsidy Organization; other footnotes detail scope for specific countries.

### General Government Fiscal Balance (Table 11)
- Series label: (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- Middle East and Central Asia: 1.3 -2.5 -3.7 -9.5 -5.6 -4.4
- Oil Exporters: 3.7 -1.1 -2.7 -10.3 -5.0 -4.0
- Algeria: 0.3 -6.8 -9.6 -12.7 -18.4 -16.0
- Azerbaijan: 5.5 5.5 8.2 -6.4 -5.2 -2.3
- Bahrain: -4.1 -11.8 -9.0 -18.3 -9.1 -9.4
- Iran, Islamic Republic of: -2.2 -2.0 -5.1 -8.4 -6.8 -7.7
- Libya: -11.0 -23.3 -24.0 -103.0 0.3 -0.1
- Qatar: 9.8 5.9 4.9 1.3 1.4 7.3
- Saudi Arabia: 3.7 -5.9 -4.5 -11.1 -3.8 -2.5
- United Arab Emirates: 5.6 1.9 0.6 -7.4 -1.3 -1.1
- Emerging Market and Middle-Income Countries: -6.0 -6.9 -7.4 -7.8 -7.6 -6.1
- Egypt: -8.6 -9.6 -7.9 -7.0 -7.5 -6.0
- Jordan: -5.9 -4.4 -6.0 -8.9 -7.7 -6.0
- Pakistan: -4.7 -6.4 -9.0 -8.0 -7.1 -5.5
- Tunisia: -3.5 -4.5 -3.9 -10.6 -9.3 -6.8
- West Bank and Gaza: ... -6.6 -7.3 -10.7 -10.5 -8.9
- Low-Income Developing Countries: -2.3 -2.4 -3.3 -4.5 -3.7 -3.0
- Tajikistan: -3.0 -2.8 -2.1 -4.4 -4.5 -2.5
- Uzbekistan: 0.5 1.7 -0.3 -3.3 -3.5 -2.8
- Yemen: -3.8 -8.0 -5.5 -9.6 -6.1 -6.2
- CCA: 1.4 1.9 0.5 -5.6 -3.2 -1.8
- MENA: 1.7 -2.6 -3.8 -10.1 -5.8 -4.7
- MENA oil exporters: 3.6 -1.6 -3.1 -10.8 -5.3 -4.3
- MENA oil importers: -6.6 -7.4 -7.0 -7.4 -7.6 -6.1
- Fragile states and conflict-affected countries: -1.4 -0.7 -4.6 -21.2 -7.7 -6.5
- Memorandum — MENA, excluding conflict countries: 1.8 -2.3 -3.5 -9.4 -5.8 -4.7

### General Government Total Revenue, Excluding Grants (Table 12)
- Series label: (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- Middle East and Central Asia: 30.3 27.7 26.3 23.1 24.2 24.6
- Oil Exporters: 33.8 30.6 28.9 24.7 26.1 26.3
- Algeria: 37.0 33.4 32.2 30.3 25.6 26.5
- Azerbaijan: 34.9 38.6 41.5 33.9 32.8 34.6
- Bahrain: 24.2 19.7 20.2 15.5 19.4 18.2
- Iran, Islamic Republic of: 16.3 15.4 10.4 9.6 10.1 10.3
- Kuwait: 65.0 58.4 57.9 56.5 51.0 53.2
- Libya: 57.7 62.6 71.0 62.1 66.6 63.5
- United Arab Emirates: 31.3 30.8 30.8 24.6 29.5 28.9
- Emerging Market and Middle-Income Countries: 20.3 19.8 19.3 19.5 20.0 20.8
- Egypt: 23.3 20.6 20.2 19.2 20.6 21.0
- Morocco: 25.6 25.7 25.4 28.2 25.2 26.5
- Pakistan: 13.6 15.1 12.9 15.0 15.7 16.9
- Low-Income Developing Countries: 23.3 17.7 18.2 16.5 16.3 17.5
- Sudan: 12.5 8.7 7.4 4.7 7.1 8.7
- CCA: ... 24.2 23.8 21.6 21.6 21.9
- MENA: 32.2 29.4 27.8 24.1 25.3 25.6
- MENA oil exporters: 34.3 31.2 29.4 25.1 26.5 26.7
- MENA oil importers: 22.8 21.4 21.0 20.2 20.7 21.3
- Fragile states and conflict-affected countries: 35.4 33.7 32.8 24.8 32.8 32.1
- Memorandum — MENA, excluding conflict countries: 31.7 29.1 27.4 23.9 25.2 25.4
- GCC: 39.0 33.6 34.0 30.7 31.3 31.8
- Notes: Country footnotes indicate whether figures are central government or general government and other scope differences.

### Oil Exporters: General Government Non-Oil Fiscal Balance (Table 13)
- Series label: (Percent of non-oil GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- MCD Oil Exporters: -38.4 -33.5 -29.8 -29.4 -28.5 -26.0
- Algeria: -36.7 -26.9 -28.1 -26.7 -33.7 -32.5
- Azerbaijan: -26.5 -32.8 -28.2 -31.1 -32.6 -30.2
- Bahrain: -29.4 -33.0 -27.4 -31.6 -25.8 -24.4
- Iran, Islamic Republic of: -12.3 -8.9 -7.3 -10.0 -9.1 -9.8
- Iraq: ... -47.8 -50.9 -60.4 -69.0 -58.5
- Kazakhstan: -8.9 -6.2 -9.5 -13.7 -11.3 -9.1
- Kuwait: -56.5 -63.3 -64.6 -71.6 -72.1 -66.1
- Libya: -179.3 -240.1 -171.7 -155.8 -245.1 -208.9
- Oman: -54.1 -51.6 -48.9 -53.1 -42.2 -40.8
- Qatar: -76.9 -32.9 -33.7 -33.8 -32.8 -28.0
- Saudi Arabia: -49.9 -40.3 -35.9 -34.4 -27.4 -24.7
- United Arab Emirates: -22.4 -23.9 -21.1 -23.8 -22.5 -21.2
- CCA oil and gas exporters: -12.0 -10.9 -12.3 -15.3 -13.8 -11.7
- MENA oil exporters: -40.6 -35.7 -31.4 -30.8 -29.9 -27.4
- Memorandum — MENA oil exporters, excl. conflict countries and Iran: -44.7 -37.8 -35.8 -37.1 -34.8 -31.6
- GCC: -44.5 -37.6 -34.6 -35.3 -30.9 -28.2

### Oil Exporters: General Government Non-Oil Revenue (Table 14)
- Series label: (Percent of non-oil GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- MCD Oil Exporters: 14.1 15.3 16.8 15.1 15.4 15.5
- Algeria: 18.9 24.8 23.8 22.4 19.1 19.6
- Azerbaijan: 25.5 22.7 24.5 25.1 25.3 24.1
- Bahrain: 6.6 6.5 10.7 9.0 11.0 10.4
- Iran, Islamic Republic of: 10.6 11.1 9.6 9.0 9.1 9.2
- Kazakhstan: 20.6 17.7 16.2 18.4 16.3 16.7
- Kuwait: 33.9 34.5 34.0 30.2 27.2 29.4
- Libya: 21.7 12.5 96.1 71.3 14.9 17.8
- Oman: 14.1 11.3 11.3 11.4 17.2 18.5
- Qatar: 16.8 14.5 17.1 15.0 17.4 17.7
- Saudi Arabia: 9.6 15.2 16.4 17.4 17.4 17.3
- United Arab Emirates: 14.5 15.2 19.2 15.4 17.8 17.6
- CCA oil and gas exporters: 21.6 17.5 16.6 17.5 16.4 16.4
- MENA oil exporters: 13.5 14.9 16.1 14.8 15.1 15.3
- Memorandum — GCC: 14.2 16.4 18.4 17.2 18.1 18.2

### Total Government Gross Debt (Table 15)
- Series label: (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- Middle East and Central Asia: 36.9 43.6 48.0 56.0 53.0 53.4
- Oil Exporters: 24.9 30.3 35.5 43.3 40.2 41.6
- Algeria: 24.1 37.8 45.8 53.1 63.3 73.9
- Azerbaijan: 12.1 18.8 17.7 21.4 30.9 31.4
- Bahrain: 36.7 95.0 102.1 132.9 129.4 134.2
- Iran, Islamic Republic of: 17.5 38.5 47.9 42.8 36.6 36.2
- Kuwait: 13.1 14.8 11.8 11.5 13.7 27.3
- Oman: 15.0 51.4 60.0 81.1 71.3 66.8
- Qatar: 33.5 52.2 62.3 71.8 59.8 53.9
- Saudi Arabia: 32.4 19.0 22.8 32.4 31.0 31.7
- United Arab Emirates: 12.0 20.9 26.8 38.3 37.1 39.2
- Emerging Market and Middle-Income Countries: 72.0 81.0 84.2 87.0 87.6 84.6
- Egypt: 83.4 92.5 84.2 90.2 92.9 88.9
- Jordan: 75.2 75.1 78.0 88.5 91.2 91.0
- Lebanon: ... 154.9 174.3 154.4 ......
- Morocco: 58.5 65.2 65.2 76.1 77.1 77.4
- Pakistan: 64.4 72.1 85.6 87.2 87.7 83.3
- Tunisia: 51.6 77.5 71.8 87.6 91.2 93.9
- Low-Income Developing Countries: 51.4 71.2 72.6 92.2 81.0 74.2
- Sudan: 96.8 185.6 200.3 262.5 211.7 185.9
- CCA: ... 24.6 25.9 33.0 33.9 34.8
- CCA oil and gas exporters: ... 21.5 23.0 29.0 30.1 31.2
- CCA oil and gas importers: 45.4 46.0 46.0 61.3 64.7 62.9
- MENA: 36.2 43.1 47.6 56.4 52.7 53.4
- MENA oil exporters: 26.0 31.7 37.3 45.5 41.9 43.3
- MENA oil importers: 78.0 94.0 91.3 96.9 94.1 90.3
- Fragile states and conflict-affected countries: ... 78.9 79.7 102.4 83.5 81.5
- Memorandum — MENA, excluding conflict countries: 35.3 42.9 47.4 56.2 52.5 53.3
- GCC: 24.6 26.1 30.8 41.0 38.3 39.6
- North Africa: 58.4 75.9 75.6 88.0 89.2 88.3

### MENAP: Total Government Net Debt (Table 16)
- Series label: (Percent of GDP) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- Middle East and Central Asia: 21.1 31.4 37.1 43.4 43.2 44.2
- Oil Exporters: 0.3 9.3 17.5 25.2 25.2 26.9
- Iran, Islamic Republic of: 5.1 25.6 38.2 35.7 31.7 32.4
- Oman: -12.2 30.3 36.3 56.1 50.7 48.1
- Saudi Arabia: 3.7 -0.1 5.0 15.8 17.6 19.6
- Emerging Market and Middle-Income Countries: 67.5 77.4 80.3 81.1 82.2 79.9
- Egypt: 66.4 81.3 74.2 79.5 83.2 81.0
- Jordan: 71.8 73.9 77.3 88.4 91.1 90.9
- Morocco: 57.3 64.9 64.9 75.4 76.5 76.7
- Pakistan: ... 66.5 77.2 79.6 80.7 77.3
- Djibouti: ... 45.5 38.5 40.8 39.8 37.9
- Mauritania: ... 59.0 55.6 58.8 55.6 60.8
- Yemen: 48.0 73.8 75.8 82.6 72.5 67.6
- MENA: 18.5 30.1 36.3 43.0 42.7 44.1
- MENA oil exporters: 1.8 13.3 21.8 29.6 29.1 30.9
- MENA oil importers: 71.0 84.0 81.3 81.3 82.2 80.7
- Memorandum — MENA, excluding conflict countries: 17.3 29.6 35.9 42.6 42.4 43.9
- GCC: 2.3 2.7 7.7 19.2 20.4 22.1
- Notes: Footnotes indicate coverage differences; some entries include IMF obligations and other public enterprise or central bank debts.

### Exports of Goods and Services (Table 17)
- Series label: (Billions of U.S. dollars) — Average 2000–17; 2018; 2019; 2020; 2021; 2022 (Projections).
- Middle East and Central Asia: 1058.2 1542.3 1455.9 1088.0 1351.4 1412.2
- Oil Exporters: 889.5 1316.7 1218.6 893.7 1139.5 1169.2
- Algeria: 48.6 44.4 38.3 24.4 31.2 31.8
- Azerbaijan: 19.0 25.5 23.6 16.5 20.9 19.9
- Bahrain: 20.6 30.0 29.6 24.1 29.2 30.1
- Iran, Islamic Republic of: 82.6 103.3 70.3 67.8 85.0 86.1
- Iraq: ... 98.1 97.0 53.8 76.6 77.3
- Kazakhstan: 49.3 67.1 65.9 52.0 69.7 68.5
- Kuwait: 66.1 79.5 73.4 46.9 61.5 61.7
- Oman: 31.4 46.3 43.7 32.9 37.5 43.9
- Qatar: 65.6 102.6 92.0 73.2 87.4 92.4
- Saudi Arabia: 227.5 314.9 285.9 183.0 258.4 256.9
- United Arab Emirates: 225.6 392.9 387.2 311.0 372.5 390.6
- Emerging Market and Middle-Income Countries: 139.9 191.8 198.9 159.8 170.8 197.0
- Egypt: 35.6 47.3 52.9 47.7 40.3 48.9
- Jordan: 10.2 15.1 16.2 10.3 12.3 16.6
- Lebanon: 16.4 19.6 18.4 9.0 ...... 

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 3

### statsapp - Section 3

### Imports of Goods and Services (Billions of U.S. dollars)
- Middle East and Central Asia: 888.9 (Average 2000–17); 1377.7 (2018); 1374.0 (2019); 1151.0 (2020); 1281.5 (2021); 1356.5 (2022 projections)
- Oil Exporters (regional): 648.2 (Average); 1002.1 (2018); 995.6 (2019); 833.6 (2020); 933.5 (2021); 976.1 (2022)
- United Arab Emirates: 184.8 (Average); 307.7 (2018); 306.5 (2019); 256.4 (2020); 295.6 (2021); 314.8 (2022)
- Emerging Market and Middle-Income Countries (regional): 199.0 (Average); 305.4 (2018); 301.4 (2019); 247.6 (2020); 268.5 (2021); 295.4 (2022)
- Egypt: 48.6 (Average); 73.5 (2018); 77.9 (2019); 75.2 (2020); 69.5 (2021); 78.2 (2022)
- Morocco: 32.4 (Average); 55.4 (2018); 54.9 (2019); 46.1 (2020); 56.4 (2021); 63.2 (2022)
- Pakistan: 35.2 (Average); 67.9 (2018); 62.8 (2019); 50.7 (2020); 54.2 (2021); 59.2 (2022)
- Low-Income Developing Countries (regional): 41.7 (Average); 70.2 (2018); 77.1 (2019); 69.8 (2020); 79.5 (2021); 85.0 (2022)
- CCA (regional): 80.4 (Average); 120.2 (2018); 130.6 (2019); 112.1 (2020); 129.5 (2021); 136.0 (2022)
- MENA (regional): 768.4 (Average); 1181.6 (2018); 1173.3 (2019); 981.2 (2020); 1090.3 (2021); 1153.6 (2022)
- MENA oil exporters: 601.5 (Average); 940.7 (2018); 929.9 (2019); 773.2 (2020); 863.7 (2021); 905.3 (2022)
- MENA oil importers: 166.9 (Average); 240.9 (2018); 243.4 (2019); 207.9 (2020); 226.6 (2021); 248.3 (2022)

### Current Account Balance (Billions of U.S. dollars)
- Middle East and Central Asia: 147.2 (Average 2000–17); 103.7 (2018); 21.0 (2019); -111.1 (2020); 12.9 (2021); 2.2 (2022)
- Oil Exporters (regional): 174.2 (Average); 171.0 (2018); 81.4 (2019); -71.8 (2020); 63.9 (2021); 54.1 (2022)
- Saudi Arabia: 60.0 (Average); 72.0 (2018); 38.2 (2019); -15.0 (2020); 22.9 (2021); 15.9 (2022)
- United Arab Emirates: 26.3 (Average); 40.5 (2018); 35.4 (2019); 11.0 (2020); 28.4 (2021); 26.0 (2022)
- Emerging Market and Middle-Income Countries (regional): -25.3 (Average); -58.5 (2018); -51.1 (2019); -29.5 (2020); -40.4 (2021); -40.4 (2022)
- Egypt: -3.8 (Average); -6.0 (2018); -10.9 (2019); -11.2 (2020); -15.9 (2021); -17.3 (2022)
- Morocco: -3.4 (Average); -6.2 (2018); -4.9 (2019); -2.5 (2020); -4.7 (2021); -5.3 (2022)
- Pakistan: -3.4 (Average); -19.2 (2018); -13.4 (2019); -3.0 (2020); ...... (2021 onward not reported)
- Low-Income Developing Countries (regional): -1.8 (Average); -8.8 (2018); -9.2 (2019); -9.9 (2020); -10.6 (2021); -11.5 (2022)
- CCA: 2.4 (Average); 1.2 (2018); -8.6 (2019); -12.9 (2020); -8.3 (2021); -9.7 (2022)
- MENA (regional): 146.1 (Average); 119.5 (2018); 40.8 (2019); -97.3 (2020); 23.4 (2021); 15.6 (2022)
- MENA oil exporters: 170.0 (Average); 162.3 (2018); 82.7 (2019); -65.8 (2020); 62.7 (2021); 54.8 (2022)
- MENA oil importers: -24.0 (Average); -42.8 (2018); -41.9 (2019); -31.5 (2020); -39.3 (2021); -39.2 (2022)

### Current Account Balance (Percent of GDP)
- Middle East and Central Asia: 6.3 percent (Average 2000–17); 2.7 percent (2018); 0.5 percent (2019); -3.0 percent (2020); 0.3 percent (2021); 0.1 percent (2022)
- Oil Exporters (regional): 9.6 percent (Average); 6.1 percent (2018); 2.8 percent (2019); -2.7 percent (2020); 2.2 percent (2021); 1.8 percent (2022)
- Saudi Arabia: 13.0 percent (Average); 9.2 percent (2018); 4.8 percent (2019); -2.1 percent (2020); 2.8 percent (2021); 1.9 percent (2022)
- United Arab Emirates: 9.6 percent (Average); 9.6 percent (2018); 8.4 percent (2019); 3.1 percent (2020); 7.1 percent (2021); 6.3 percent (2022)
- Emerging Market and Middle-Income Countries (regional): -3.3 percent (Average); -6.8 percent (2018); -5.8 percent (2019); -3.3 percent (2020); -4.3 percent (2021); -3.9 percent (2022)
- Egypt: -0.9 percent (Average); -2.4 percent (2018); -3.6 percent (2019); -3.1 percent (2020); -4.0 percent (2021); -4.0 percent (2022)
- Morocco: -3.4 percent (Average); -5.3 percent (2018); -4.1 percent (2019); -2.2 percent (2020); -3.8 percent (2021); -4.0 percent (2022)
- Tunisia: -6.1 percent (Average); -11.1 percent (2018); -8.4 percent (2019); -6.8 percent (2020); -9.5 percent (2021); -9.4 percent (2022)
- Low-Income Developing Countries (regional): 1.8 percent (Average); -5.5 percent (2018); -5.6 percent (2019); -6.1 percent (2020); -6.0 percent (2021); -6.2 percent (2022)
- MENA (regional): 7.4 percent (Average); 3.8 percent (2018); 1.2 percent (2019); -3.2 percent (2020); 0.7 percent (2021); 0.4 percent (2022)
- MENA oil exporters: 10.1 percent (Average); 6.3 percent (2018); 3.1 percent (2019); -2.7 percent (2020); 2.3 percent (2021); 2.0 percent (2022)
- MENA oil importers: -4.0 percent (Average); -7.5 percent (2018); -6.7 percent (2019); -4.9 percent (2020); -5.6 percent (2021); -5.2 percent (2022)

### Gross Official Reserves (Billions of U.S. dollars)
- Middle East and Central Asia: 876.0 (Average 2000–17); 1246.4 (2018); 1135.6 (2019); 1051.2 (2020); 1067.3 (2021); 1089.5 (2022 projections)
- Oil Exporters (regional): 762.1 (Average); 1061.8 (2018); 956.5 (2019); 862.0 (2020); 870.3 (2021); 885.7 (2022)
- Saudi Arabia: 362.9 (Average); 494.1 (2018); 497.3 (2019); 451.4 (2020); 450.0 (2021); 449.3 (2022)
- United Arab Emirates (central bank only): 45.0 (Average); 99.5 (2018); 108.4 (2019); 106.7 (2020); 119.0 (2021); 127.7 (2022)
- Emerging Market and Middle-Income Countries (regional): 91.1 (Average); 140.0 (2018); 131.4 (2019); 135.2 (2020); 144.3 (2021); 150.3 (2022)
- Egypt: 21.5 (Average); 43.5 (2018); 43.9 (2019); 37.2 (2020); 41.2 (2021); 42.2 (2022)
- Morocco: 18.7 (Average); 24.4 (2018); 26.4 (2019); 35.3 (2020); 36.9 (2021); 38.5 (2022)
- Pakistan: 9.6 (Average); 9.8 (2018); 7.3 (2019); 12.2 (2020); 14.4 (2021); 17.8 (2022)
- Low-Income Developing Countries (regional): 22.7 (Average); 44.6 (2018); 47.7 (2019); 54.0 (2020); 52.7 (2021); 53.6 (2022)
- CCA: 41.1 (Average); 72.5 (2018); 74.7 (2019); 88.0 (2020); 89.7 (2021); 92.3 (2022)
- MENA: 822.9 (Average); 1155.9 (2018); 1045.0 (2019); 941.3 (2020); 953.8 (2021); 970.1 (2022)
- MENA oil exporters: 742.5 (Average); 1027.5 (2018); 922.5 (2019); 820.9 (2020); 826.9 (2021); 840.7 (2022)
- MENA oil importers: 80.4 (Average); 128.3 (2018); 122.5 (2019); 120.4 (2020); 126.9 (2021); 129.4 (2022)

### Total Gross External Debt (Percent of GDP)
- Middle East and Central Asia: 33.3 percent (Average 2000–17); 44.5 percent (2018); 46.8 percent (2019); 53.9 percent (2020); 49.3 percent (2021); 48.2 percent (2022)
- Oil Exporters (regional): 30.1 percent (Average); 41.1 percent (2018); 43.4 percent (2019); 51.6 percent (2020); 46.9 percent (2021); 46.7 percent (2022)
- Bahrain: 121.2 percent (Average); 204.6 percent (2018); 225.7 percent (2019); 257.7 percent (2020); 245.6 percent (2021); 246.4 percent (2022)
- Kazakhstan: 82.9 percent (Average); 99.3 percent (2018); 86.9 percent (2019); 97.7 percent (2020); 82.7 percent (2021); 79.0 percent (2022)
- United Arab Emirates: 43.9 percent (Average); 67.9 percent (2018); 76.6 percent (2019); 99.5 percent (2020); 92.2 percent (2021); 94.3 percent (2022)
- Emerging Market and Middle-Income Countries (regional): 39.9 percent (Average); 50.4 percent (2018); 52.3 percent (2019); 53.8 percent (2020); 50.9 percent (2021); 47.9 percent (2022)
- Egypt: 23.6 percent (Average); 37.4 percent (2018); 34.0 percent (2019); 34.4 percent (2020); 38.1 percent (2021); 33.4 percent (2022)
- Morocco: 29.8 percent (Average); 32.6 percent (2018); 32.7 percent (2019); 39.3 percent (2020); 39.9 percent (2021); 39.4 percent (2022)
- Pakistan: 32.5 percent (Average); 33.0 percent (2018); 43.6 percent (2019); 43.7 percent (2020); 43.3 percent (2021); 42.8 percent (2022)
- Low-Income Developing Countries (regional): 49.7 percent (Average); 72.3 percent (2018); 75.5 percent (2019); 91.3 percent (2020); 82.3 percent (2021); 76.1 percent (2022)
- CCA: 58.8 percent (Average); 73.2 percent (2018); 68.1 percent (2019); 76.9 percent (2020); 69.3 percent (2021); 67.4 percent (2022)
- MENA (regional): 30.7 percent (Average); 42.6 percent (2018); 44.8 percent (2019); 52.4 percent (2020); 47.7 percent (2021); 46.6 percent (2022)
- MENA oil exporters: 26.9 percent (Average); 37.0 percent (2018); 40.5 percent (2019); 48.7 percent (2020); 44.6 percent (2021); 44.6 percent (2022)
- MENA oil importers: 45.3 percent (Average); 67.1 percent (2018); 62.9 percent (2019); 66.0 percent (2020); 59.4 percent (2021); 54.1 percent (2022)

### Gross Official Reserves (Months of Imports)
- Middle East and Central Asia: 9.4 months (Average 2000–17); 10.3 (2018); 11.2 (2019); 9.5 (2020); 9.1 (2021); 8.9 (2022)
- Oil Exporters (regional): 10.8 months (Average); 11.9 (2018); 12.8 (2019); 10.5 (2020); 10.2 (2021); 10.0 (2022)
- Saudi Arabia: 23.8 months (Average); 27.1 (2018); 35.6 (2019); 26.3 (2020); 25.7 (2021); 24.7 (2022)
- United Arab Emirates: 2.7 months (Average); 3.9 (2018); 5.1 (2019); 4.3 (2020); 4.5 (2021); 4.6 (2022)
- Emerging Market and Middle-Income Countries (regional): 5.4 months (Average); 5.6 (2018); 6.4 (2019); 6.0 (2020); 6.1 (2021); 5.9 (2022)
- Egypt: 5.6 months (Average); 6.7 (2018); 7.0 (2019); 6.4 (2020); 6.3 (2021); 6.0 (2022)
- Morocco: 6.9 months (Average); 5.3 (2018); 6.9 (2019); 7.5 (2020); 7.0 (2021); 6.9 (2022)
- Pakistan: 3.0 months (Average); 1.9 (2018); 1.7 (2019); 2.7 (2020); 2.9 (2021); 3.3 (2022)
- Low-Income Developing Countries (regional): 6.3 months (Average); 7.4 (2018); 8.9 (2019); 8.8 (2020); 8.0 (2021); 7.6 (2022)
- CCA: 5.6 months (Average); 7.1 (2018); 8.5 (2019); 8.6 (2020); 8.4 (2021); 8.1 (2022)
- MENA (regional): 10.1 months (Average); 11.1 (2018); 11.9 (2019); 9.9 (2020); 9.9 (2021); 9.3 (2022)
- MENA oil exporters: 11.2 months (Average); 12.2 (2018); 13.2 (2019); 10.7 (2020); 10.3 (2021); 10.1 (2022)
- MENA oil importers: 5.8 months (Average); 6.5 (2018); 7.2 (2019); 6.5 (2020); 6.5 (2021); 6.3 (2022)

### Capital Adequacy Ratios (Percent of risk-weighted assets)
- Selected time-series snippets (by country where available in source):
  - Bahrain retail banks’ CAR: multiple monthly readings including 19.2, 19.5, 19.8, 20.1, 18.9, 19.2, 20.0, 20.4, 17.8, 19.2, 19.8, 20.0 (Dec-17 through Dec-20 quarterly/monthly entries)
  - Iraq: series including 46.5, 48.8, 48.8, 63.8, 63.8, 64.6, 62.8, 62.6, 53.9, 53.5, 54.3, 59.3, 53.1 (multiple dated entries)
  - Kazakhstan: series including 21.8, 21.9, 21.4, 21.4, 21.9, 23.2, 22.6, 23.2, 23.2, 24.6, 26.4, 25.3 (multiple dated entries)
  - Kuwait: series including 18.4, 18.2, 17.9, 18.0, 18.0, 18.0, 17.6, 18.0, 18.5, 17.2, 17.6 (multiple dated entries)
  - Oman: series including 18.0, 16.2, 16.3, 16.5, 17.9, 17.9, 17.7, 18.1, 18.5, 17.8, 18.3, 18.5, 19.1 (multiple dated entries)
  - Qatar: series including 16.3, 16.1, 16.2, 18.0, 18.0, 17.8, 17.6, 17.6, 18.6, 18.1, 18.1, 18.2, 19.0 (multiple dated entries)
  - Saudi Arabia: series includes entries around 20.4, 20.9, 20.1, 20.3, 20.2, 19.7, 19.4, 19.4, 18.6, 19.1, 19.6 (multiple dated entries)
  - United Arab Emirates national banks only: series including 18.1, 17.5, 18.1, 18.1, 18.2, 17.5, 17.9, 17.9, 17.9, 17.7, 16.9, 17.6 (multiple dated entries)
  - Armenia: CAR series including 18.6, 18.7, 18.2, 17.9, 17.7, 17.9, 17.4, 17.5, 17.6, 17.0, 17.4, 17.1, 16.9
  - Egypt: CAR series including 15.2, 15.7, 15.6, 16.0, 16.2, 16.5, 16.9, 18.1, 18.4, 18.6, 20.1, 19.8 (multiple dated entries)
  - Georgia: CAR series including 19.1, 19.0, 18.9, 17.6, 18.4, 19.1, 18.2, 19.0, 19.0, 19.5, 17.0, 18.0, 17.6
  - Jordan: CAR series includes 17.6, 17.2, 16.9, 17.0, 18.3, 17.9 (multiple dated entries)
  - Lebanon (CAR according to Basel II/III): series includes 17.1, 17.1, 16.9, 16.6, 17.8, 17.3, 15.8, 10.5 (multiple dated entries; later gaps)
  - Morocco: CAR series includes 13.8, 14.0, 14.7, 15.1, 15.6, 15.5 (multiple dated entries)
  - Pakistan: CAR series includes 15.8, 15.9, 15.9, 16.1, 16.2, 16.1, 16.1, 17.1, 17.1, 17.0, 17.2, 18.7, 19.5
  - Tunisia: CAR series includes 11.8, 11.8, 11.6, 11.7, 11.7, 11.8, 12.0, 12.4, 13.0, 13.4, 13.3, 13.2
  - West Bank and Gaza (Tier I for local banks): series includes 14.9, 14.8, 14.9, 14.5, 15.1, 14.7, 14.3, 14.3, 15.3, 15.6, 15.5, 15.2, 15.0
  - Djibouti note: Djibouti CAR entries include 13.9, 13.7, 14.4, 14.8, 15.6, 15.3, 15.2, 15.4, 15.7, 17.2, 16.2, 14.2 (multiple dated entries)

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 4

### Table 25. Return on Assets (Pre-tax, percent) and Table 26. Nonperforming Loans (90-day basis, percent of total loans)

### Time labels (columns)
- Dec-17, Mar-18, Jun-18, Sep-18, Dec-18, Mar-19, Jun-19, Sep-19, Dec-19, Mar-20, Jun-20, Sep-20, Dec-20

### Middle East and Central Asia — Oil Exporters (Return on Assets, pre-tax, percent)
- Algeria: 13.0.........12.7........................
- Azerbaijan1: ........................8.0.........6.0
- Bahrain2: ...0.40.70.91.30.20.81.11.50.30.50.70.8
- Iran: 11.310.311.611.411.610.010.510.19.78.610.17.8
- Iraq: 1.11.21.00.80.60.60.80.90.92.70.91.3...
- Kazakhstan: 0.13.63.33.33.20.62.63.13.74.33.13.2...
- Kuwait: 1.21.21.21.31.31.31.31.31.21.10.9......
- Libya: 0.4.........1.0.........0.7............
- Oman: 1.51.61.40.9
- Qatar: 1.61.60.40.71.11.4
- Saudi Arabia: ...2.22.12.22.12.41.91.91.81.81.01.2...
- Turkmenistan: 0.80.20.4...0.80.80.90.80.80.80.90.8...
- United Arab Emirates2: 1.51.51.71.71.61.81.71.71.60.90.90.8...

### Emerging Market and Middle-Income Countries (Return on Assets, pre-tax, percent)
- Armenia: 1.21.41.51.51.21.61.41.61.71.51.81.61.3
- Egypt3: 2.01.51.51.51.51.41.41.41.41.81.81.8...
- Georgia4: 3.13.03.02.73.02.42.12.42.5-7.1-2.4-0.90.2
- Jordan: 1.2...1.2...1.2...1.2...1.2...0.7......
- Lebanon3: 1.11.01.11.21.20.91.01.10.7-0.4.........
- Morocco: 0.9...1.1...0.9...1.11.00.9...0.6......
- Pakistan: 0.90.90.80.80.80.80.80.80.80.81.11.1...
- Syria: .......................................
- Tunisia: 1.2.........1.2.........1.1............
- West Bank and Gaza: 1.51.51.51.51.51.51.51.41.31.10.80.8...

### Low-Income Developing Countries (Return on Assets, pre-tax, percent)
- Afghanistan: 0.6-0.30.40.40.80.10.81.0...............
- Djibouti: 0.71.41.01.10.91.31.00.91.10.80.50.4...
- Kyrgyz Republic: 1.27.18.39.21.40.70.91.01.21.31.21.2...
- Mauritania: 0.6.........0.4.........0.5............
- Somalia: ..............................0.10.0-0.3
- Sudan: 0.02.33.03.44.90.91.62.43.41.41.92.53.3
- Tajikistan: 60.41.41.72.01.91.92.52.32.13.51.92.22.5
- Uzbekistan: 1.92.01.81.62.12.02.02.22.22.42.32.22.2
- Yemen: .......................................

### Table 26 — Nonperforming Loans (90-day basis, percent of total loans) — Middle East and Central Asia — Oil Exporters
- Time labels: Dec-17, Mar-18, Jun-18, Sep-18, Dec-18, Mar-19, Jun-19, Sep-19, Dec-19, Mar-20, Jun-20, Sep-20, Dec-20
- Algeria: 13.0.........12.7........................
- Azerbaijan1: ........................8.0.........6.0
- Bahrain2: ...6.96.96.66.56.66.46.56.35.65.35.25.1
- Iran: 11.310.311.611.411.610.010.510.19.78.610.17.8
- Iraq: 14.815.215.717.017.518.216.715.516.217.918.719.1...
- Kazakhstan: 0.13.63.33.33.20.62.63.13.74.33.13.2...
- Kuwait: 1.92.12.12.01.61.81.81.81.51.82.6......
- Libya: 21.0.........21.0.........21.0............
- Oman: 2.42.62.72.72.72.93.03.23.43.74.04.04.2
- Qatar: ............1.9.........1.81.92.12.12.0
- Saudi Arabia: ...1.71.81.82.01.91.91.91.91.92.32.2...
- Turkmenistan: 0.80.70.7...0.00.00.00.00.00.00.00.0...
- United Arab Emirates3: 5.35.85.85.75.65.76.26.46.56.97.47.7...

### Table 26 — Nonperforming Loans (90-day basis, percent of total loans) — Emerging Market and Middle-Income Countries
- Armenia4: 5.55.46.36.94.85.05.45.55.55.55.76.06.6
- Egypt5: 4.94.54.34.43.94.14.24.54.24.13.93.4...
- Georgia: 2.82.42.42.72.73.02.92.72.02.22.42.42.3
- Jordan: 4.2...4.6...4.9...5.2...5.0...5.4......
- Lebanon: 5.78.89.09.610.311.011.612.415.220.3.........
- Morocco: 7.57.67.47.67.47.77.57.67.57.87.98.38.3
- Pakistan: 8.48.37.98.08.08.28.88.88.69.19.79.9...
- Syria: .......................................
- Tunisia: 13.913.913.714.213.313.613.713.913.413.213.513.1...
- West Bank and Gaza: 2.32.32.93.13.03.23.63.94.14.03.93.7...

### Table 26 — Nonperforming Loans (90-day basis, percent of total loans) — Low-Income Developing Countries
- Afghanistan: 12.211.811.111.38.910.812.512.7...............
- Djibouti: 16.515.916.218.318.118.216.617.116.015.016.313.8...
- Kyrgyz Republic: 7.67.97.47.47.57.97.88.38.08.38.69.7...
- Mauritania: 22.4.........22.6.........21.5......25.8...
- Somalia: ...0.40.51.51.72.94.05.15.35.36.26.04.0
- Sudan: 0.00.00.00.00.00.00.00.00.00.00.00.0...
- Tajikistan5: 36.534.332.632.431.130.025.531.526.129.231.028.523.8
- Uzbekistan: 1.21.21.31.31.31.51.51.31.52.22.82.62.1
- Yemen: .......................................

### Notes and data flags (as in source)
- Sources: National authorities, and IMF staff estimates.
- 1 Data is for retail banks’ (Table 25) / Only the overdue portion of principal and interest is disclosed as NPL. (Table 26)
- 2 National banks only.
- 3 After tax. (Table 25) / Data is for retail banks’ (Table 26)
- 4 Cumulative and annualized. (Table 25) / Defined as loans overdue between at least 1 and 270 days. (Table 26)
- 5 Data refer to end of fiscal year. (Table 26)
- 6 Overdue by 30 days or more. (Table 26)

*Sources: National authorities, and IMF staff estimates.*

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_Source: https://www.imf.org/-/media/files/publications/reo/mcd-cca/2021/april/english/statsapp.pdf_